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In United States
Registered Oct 04, 2009
civilsid's most recent comments:
- On 2 Oct 2012
This is a really good look from multiple points and Patrick is right on.
I want to note that there are risks of renting too. What if your landlord gets foreclosed? That is more likely than forcing you to sell through eminant domain (they don't actually just take it, they have to pay fair market value; of course that determined value could be dubious).
Also, in the quest for owning mortgage free, why not buy something much cheaper than you can afford, put in sweat equity, fix it up, peddle it and repeat, slowly upgrading each time to get something closer to what you want?
Another note- at this time, I have more than 50% equity in my house and it is sort of driving me nuts because that is a lot of latent equity I could be using for other investments. I am thinking that being mortgage free in the 4% interest rate world we currently live in is not good if I know I can re-invest at better rates.
Final thoughts- in general people are terrible at saving money and making a minimum mortgage payment on a max size mortgage is a horrible way to save money but sadly, many times, it is the best that they can do.
- On 30 Sep 2012
"Sorry... But It's Under Contract"... FUCKING LIARS!,
hahaha. That's funny! Go SCUM! I heard your head was missing, I recommend you call your proctologist.
On a more intelligent note- pkennedy has many good points. But the seller / banks are so insane sometimes that they insist you close in a tight time frame but they are never able to even get the proper signatures in place from the seller side to comply.
I have not ever head of a 3 day closing, from a buyer side- I would at the very least insist on a preliminary title report to review any possible inconsistencies or discrepencies. Of course I can go to the county recorder and do my own research but that is still not going to get you an owner's title policy in that amount of time. Are you actually talking about something akin to a quit claim? I have bought property unseen because the price was right but I have never waived the right to review title prior to money going hard.
- On 30 Sep 2012
Work 30 Years For Something That Was Made in 3 Months,
You are going to be like my pet idiot. Really, I find fun and humor in this and that is why I do it, enjoying my coffee on a Sunday AM.
Who cares how long it takes to build a house? It is all about supply and demand curves. But I do not want to make this a lesson of economics.
I am a civil engineer and I do want you to take just a moment to think about the infrastructure and the manufacture of everything. Where do you get your water pressure from? What happens when you flush a toilet? **Magically** we have a world of conveniences. Think about how cheap it is to buy PVC pipe or a sheet of drywall or a 2x4. It is economy of scale.
Now imagine you do not have any of these resources. What could you possibly build in 30 years with all of your efforts? So do not slander technological advancements which allow you to have so much more benefit for so much less cost.
And if you are spending every nickel of income for 30 years, that is because you are an idiot. I chose to spend a very small portion of my income on a 15 year note. And I will drag it out with minimum payments as long as I own the place because the interest is so amazingly low. Sorry, starting to sound like a math lesson again. Cheers!